fc Flashcards

1
Q

Organizing

A

Definition:
The deployment of organizational resources to achieve strategic goals; engineering a stucture with smooth tranistion to success

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2
Q

Organization structure

A

Definition:
The framework in which an organization defines how tasks are divided, resources are deployed, and departments are coordinated.

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3
Q

Division of labor

A

Definition:

The degree to which organizational tasks are subdivided into separate jobs. Also called work specialization.

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4
Q

chain of command

A

Definition:

An unbroken line of authority that links all individuals in the organization and specifies who reports to whom

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5
Q

Authority

A

Definition:
The formal and legitimate right of a manager to make decisions, issue orders, and allocate resources to achieve outcomes desired by the organization.

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6
Q

Responsibility

A

Definition:

The duty to perform the task or activity that one has been assigned.

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7
Q

span of management

A

Definition:

The number of employees reporting to a supervisor; sometimes called span of control.

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8
Q

tall structure

A

Definition:
An organizational structure characterized by an overall narrow span of management and a relatively large number of hierarchical levels.

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9
Q

flat structur

A

Definition:

An organizational structure characterized by an overall broad span of management and relatively few hierarchical levels.

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10
Q

cross-functional teams

A

Definition:

A group of employees from various functional departments that meet as a team to resolve mutual problems.

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11
Q

permanent teams

A

Definition:

A group of employees from all functional areas permanently assigned to focus on a specific task or activity.

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12
Q

team-based structure

A

Definition:
A structure in which an entire organization is made up of horizontal teams that coordinate their activities and work directly with customers to accomplish organizational goals.

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13
Q

relational coordination

A

Definition:
Frequent horizontal coordination and communication carried out through ongoing relationships of shared goals, shared knowledge, and mutual respect.

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14
Q

technical complexity

A

Definition:

The degree to which complex machinery is involved in the production process to the exclusion of people.

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15
Q

Service technology

A

Definition:

Characterized by intangible outputs and direct contact between employees and customers.

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16
Q

normative

A

Definition:
Means that it defines how a manager should make logical decisions and provides guidelines for reaching an ideal outcome.

what is the normal

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17
Q

Satisficing

A

Definition:
Refers to choosing the first alternative that satisfies minimal decision criteria, regardless of whether better solutions are presumed to exist.

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18
Q

Intuition

A

Definition:
An aspect of administrative decision making that refers to a quick comprehension of a decision situation based on past experience but without conscious thought.

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19
Q

quasirationality

A

Definition:

Combining intuitive and analytical thought.

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20
Q

coalition

A

Definition:

An informal alliance among managers who support a specific goal or solution.

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21
Q

Evidence-based decision making

A

Definition:
A process founded on a commitment to examining potential biases, seeking and examining evidence with rigor, and making informed and intelligent decisions based on the best available facts and evidence.

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22
Q

sunk cost effect

A

Definition:

The tendency to continue investing in a failing project in the hope of turning it around.

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23
Q

point–counterpoint

A

Definition:
A technique that breaks a decision-making group into two subgroups and assigns them different, often competing, responsibilities.

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24
Q

Groupthink

A

Definition:

The tendency of people in groups to suppress contrary opinions in a desire for harmony.

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25
Q

escalating commitment

A

Definition:

Refers to continuing to invest time and money in a decision despite evidence that it is failing.

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26
Q

after-action review

A

Definition:
A disciplined procedure whereby managers review the results of decisions to evaluate what worked, what didn’t, and how to do things better.

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27
Q

Risk propensity

A

Definition:

The willingness to undertake risk with the opportunity of gaining an increased payoff.v

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28
Q

Business-level strategy

A

Definition:

Pertains to each business unit or product line within the organization.

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29
Q

Functional-level strategy

A

Definition:
Pertains to the major functional departments within each business unit, such as manufacturing, marketing, and research and development (R&D).

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30
Q

SWOT analysis

A

Definition:
An audit or careful examination of strengths, weaknesses, opportunities, and threats that affect organizational performance.

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31
Q

strategic business units (SBUs)

A

Definition:
A division of the organization that has a unique business, mission, product or service line, competitors, and markets relative to other units of the same organization

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32
Q

Portfolio strategy

A

Definition:
Pertains to the mix of strategic business unit (SBUs) and product lines that fit together in a logical way to provide synergy and competitive advantage.

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33
Q

BCG matrix

A

Definition:
A concept developed by the Boston Consulting Group (BCG) that evaluates strategic business units with respect to two dimensions— business growth rate and market share—and classifies them as cash cows, stars, question marks, or dogs.

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34
Q

embeddedness

A

Definition:
A situation in which there is a deep understanding and acceptance of organizational direction and purpose throughout the organization.

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35
Q

Key performance indicators (KPIs)

A

Definition:
A tool used to assess what is important to an organization and how well the organization is progressing toward attaining its strategic goal, so that managers can establish lower-level goals that drive performance toward the overall strategic objective.

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36
Q

Management by objectives (MBO)

A

Definition:
A method whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance.

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37
Q

management by means (MBM)

A

Definition:
An approach that focuses people on the methods and processes used to attain results, rather than on the results themselves.

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38
Q

locus of control

A

Definition:
Defines whether an individual places the primary responsibility for his successes and failures within himself or on outside forces.

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39
Q

pivot

A

Definition:

To change the strategic direction of a business.

40
Q

debt financing

A

Definition:
Involves borrowing money, such as from friends, family, or a bank, that has to be repaid at a later date in order to start a business.

41
Q

Equity financing

A

Definition:

Funds that are invested in exchange for ownership in the company.

42
Q

angel financing

A

Definition:
Occurs when a wealthy individual who believes in the idea for a start-up provides personal funds and advice to help the business get started.

43
Q

venture capital firm

A

Definition:
A group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

44
Q

crowdfunding

A

Definition:
A way of raising capital that involves getting small amounts of money from a large number of investors, usually using social media or the Internet.

45
Q

business incubator

A

Definition:
Helps start-up companies by connecting them with a range of experts and mentors who nurture them, thus increasing their likelihood of success.

46
Q

Franchising

A

Definition:
An arrangement by which the owner of a product or service allows others to purchase the right to distribute a product or service with help from the owner.

47
Q

individualism approach

A

Definition:
A decision-making approach suggesting that actions are ethical when they promote the individual’s best long-term interests, because with everyone pursuing self-interest, the greater good is ultimately served.

48
Q

moral-rights approach

A

Definition:

Holds that ethical decisions are those that best maintain the fundamental rights of the people affected by them.

49
Q

justice approach

A

Definition:

Says that ethical decisions must be based on standards of equity, fairness, and impartiality.

50
Q

Distributive justice

A

Definition:

Requires that different treatment of individuals not be based on arbitrary characteristics.

51
Q

Procedural justice

A

Definition:

Holds that rules should be clearly stated and consistently and impartially enforced.

52
Q

Compensatory justice

A

Definition:
Argues that individuals should be compensated for the cost of their injuries by the party responsible, and individuals should not be held responsible for matters over which they have no control.

53
Q

practical approach

A

Definition:
A decision-making approach that sidesteps debates about what is right, good, or just, and bases decisions on the prevailing standards of the profession and the larger society.

54
Q

corporate social responsibility (CSR)

A

Definition:
The obligation of organizational managers to make choices and take actions that will enhance the welfare and interests of society as well as the organization.

55
Q

triple bottom line

A

Definition:

Refers to measuring the organization’s financial performance, social performance, and environmental performance.

56
Q

benefit corporation

A

Definition:
A for-profit organization that has a stated purpose of creating a positive impact on society; is required to consider the impact of decisions on all stakeholders; and voluntarily holds itself to high standards of accountability and transparency.

57
Q

bottom of the pyramid (BOP)

A

Definition:
Proposes that corporations can alleviate poverty and other social ills, as well as make significant profits, by selling to the world’s poor.

58
Q

Global outsourcing

A

Definition:
Engaging in the international division of labor so as to obtain the cheapest sources of labor and supplies, regardless of country. Sometimes called offshoring.

59
Q

Political risk

A

Definition:
A company’s risk of loss of assets, earning power, or managerial control due to politically based events or actions by host governments.

60
Q

political instability

A

Definition:

Events such as riots, revolutions, or government upheavals that can affect the operations of an international company.

61
Q

Ethnocentrism

A

Definition:

The natural tendency among people to regard their own culture as superior to others.

62
Q

power distance

A

Definition:

The degree to which people accept inequality in power among institutions, organizations, and people.

63
Q

uncertainty avoidance

A

Definition:
Characterized by people’s intolerance for uncertainty and ambiguity and resulting support for beliefs that promise certainty and conformity.

64
Q

Masculinity

A

Definition:

A cultural preference for achievement, heroism, assertiveness, work centrality, and material success.

65
Q

Femininity

A

Definition:

A cultural preference for relationships, cooperation, group decision making, and quality of life.

66
Q

low-context culture

A

Definition:
A culture where people use communication primarily to exchange facts and information and derive meaning primarily from words rather than context.

67
Q

organizational environment

A

Definition:

Includes all elements existing outside the boundary of an organization that have the potential to affect it.

68
Q

task environment

A

Definition:
Includes the sectors that conduct day-to-day transactions with the organization and directly influence its basic operations and performance.

69
Q

general environment

A

Definition:

Indirectly influences all organizations within an industry; includes five dimensions.

70
Q

organizational ecosystem

A

Definition:
Includes organizations in all the sectors of the task and general environments that provide the resource and information transactions, flows, and linkages necessary for an organization to thrive.

71
Q

internal environment

A

Definition:

Includes elements within the organization’s boundaries, such as employees, management, and corporate culture.

72
Q

labor market

A

5Definition:

The people available for hire by the organization.

73
Q

international dimension

A

Definition:
In the external environment, represents events originating in foreign countries, as well as opportunities for companies in other countries.

74
Q

technological dimension

A

Definition:

In the general environment, includes scientific and technological advances in society.

75
Q

sociocultural dimension

A

Definition:

Includes demographic characteristics, norms, customs, and values of a population within which the organization operates.

76
Q

legal–political dimension

A

Definition:
Includes government regulations at the local, state, and federal levels, as well as political activities designed to influence company behavior.`

77
Q

Boundary spanning

A

Definition:

Links to and coordinates the organization with key elements in the external environment.

78
Q

joint venture

A

Definition:

A strategic alliance or program by two or more organizations.

79
Q

adaptability culture

A

Definition:
Characterized by values that support the company’s ability to interpret and translate signals from the environment into new behavior responses.

80
Q

achievement culture

A

Definition:

A results-oriented culture that values competitiveness, personal initiative, and achievement.

81
Q

consistency culture

A

Definition:

Values and rewards a methodical, rational, orderly way of doing things.

82
Q

classical perspective

A

Definition:

Takes a rational, scientific approach to management and seeks to turn organizations into efficient operating machines.

83
Q

Scientific management

A

Definition:
A subfield of the classical perspective that emphasizes scientifically determined changes in management practices as the solution to improving labor productivity.

84
Q

administrative principles approach

A

Definition:
A subfield of the classical perspective that focuses on the total organization rather than the individual worker and delineates the management functions of planning, organizing, commanding, coordinating, and controlling.

85
Q

quantitative techniques

A

Definition:

The use of mathematics, statistics, and computer technology to facilitate management decision making

86
Q

Information technology (IT)

A

Definition:
The hardware, software, telecommunications, database management, and other technologies used to store, process, and distribute information.

87
Q

quants

A

Definition:

Refers to financial managers and others who make decisions based primarily on complex quantitative analysis.

88
Q

humanistic perspective

A

Definition:

Emphasizes understanding human behavior, needs, and attitudes in the workplace.

89
Q

human relations movement

A

Definition:

Stresses the satisfaction of employees’ basic needs as the key to increased productivity.

90
Q

human resources perspective

A

Definition:
Suggests that jobs should be designed to meet people’s higher-level needs by allowing employees to use their full potential.

91
Q

Systems thinking

A

Definition:
Looking not just at discrete parts of an organizational situation, but also at the continually changing interactions among the parts.

92
Q

contingency view

A

Definition:

Tells managers that what works in one organizational situation might not work in another.

93
Q

Leading

A

Definition:

Using influence to motivate employees to achieve the organization’s goals.

94
Q

Controlling

A

Definition:
Is concerned with monitoring employees’ activities, keeping the organization on track toward meeting its goals and making corrections as necessary.

95
Q

efficiency

A

Definition:

The amount of resources—raw materials, money, and people—used to produce a desired volume of output.